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ORCLAMZNMETAGOOGLNVDABEARISHCore thesis · 5/5

AI bubble manifests in credit, not equity

The thesis argued is that the AI bubble is primarily a credit bubble, with debt market signals like surging CDS spreads and weak bond demand indicating a shift from financing growth to pricing risk.

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NOT INVESTMENT ADVICE · A SUMMARY OF WHAT WAS SAID ON THE PODCAST · VERIFY AGAINST THE SOURCE